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blankseplocked Auctions starting bids and reserve
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Native Freshfood
Posted - 2010.11.02 00:32:00 - [1]

So I don't get it, the put the starting bid then put the reserve at a higher number.. why not just make the reserve bid? is it because you think you over priced your sale in the first place?


Posted - 2010.11.02 00:47:00 - [2]

asking myself the same question

Posted - 2010.11.02 00:50:00 - [3]

maybe to somewhat reign in the more realistic bids (actually going to pay), barring a reserve buyout bidder?

Hari Markkus
Deep Core Mining Inc.
Posted - 2010.11.02 01:05:00 - [4]

It is used in real life auctions in the hope of getting a better price. By starting at a lower price the auctioneer is trying to get more people interested in the auction and hopes that the excitement of the auction will make them pay more than if the auction had started at the reserve price.

Native Freshfood
Posted - 2010.11.02 20:49:00 - [5]

ok so its more of a psychological thing. So if they have the reserve hidden with a low starting bid people would be more likely to throw a bid up in hopes to win.

Kinda like the whole $99.00 people look at it and its under a hundred dollars so they like it compared to if it just said $100.

Otherworld Enterprises
Otherworld Empire
Posted - 2010.11.02 21:16:00 - [6]

Also, a reserve serves the purpose of the item being sold if it hits that value, anything below - the seller can chose to sell or not, while the practise would be that once the reserve is met the seller "must" sell to to the winning bid.

But yes also to drive up interest by having a lower starting bid.



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